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Brazil extends 6% tax on foreign loans and bonds to help weaken the Real

Tuesday, March 13th 2012 - 07:26 UTC
Full article 1 comment

Brazil extended on Monday a 6% tax on foreign loans and bonds issued abroad by local companies to include lending with duration of as long as five years, the third measure taken this month to weaken the Real. Since March 1, the currency has weakened 5.6%. Read full article

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  • Fido Dido

    Currency war is only going to heat up more when the Federal Reserve is ready for QE3 (print money and lend against close to 0% interest rates and buys (for free) back worthless bonds from the banks that have them on their “shadow” balance sheets so they can use use fresh fiat money to gamble of the back of the tax payers on the futures market/commodities or lend it overseas at higher interest rates).

    This scheme has never worked and we all know how it will end if mad people do not get what they want...(currency war leads to trade war leads to real war is chaos and solution from the same scammers who robbed us from our wealth through inflation...must history repeat itself again?) Good news is, specially when the new Pan Asian Gold Exchange in China (PAGE) goes live and restore real value of gold and silver where the banksters have no control of their manipulation.

    Mar 13th, 2012 - 08:05 am - Link - Report abuse 0

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